Business
Montero Announces Repricing of Stock Options
TORONTO, July 15, 2025 (GLOBE NEWSWIRE) -- Montero Mining and Exploration Ltd. (TSX-V: MON) (OTCP...
About this update from Montero Mining And Exploration Ltd.
[{"type":"text","content":"Montero Announces Repricing of Stock Options\n\n\n\n TORONTO, July 15, 2025 (GLOBE NEWSWIRE) -- Montero Mining and Exploration Ltd. (TSX-V: MON) (OTCPK: MXTRF) (“\n \n Montero\n \n ” or the “\n \n Company\n \n ”) announces that the board of directors have approved the repricing of the exercise price of an aggregate of 741,667 outstanding incentive stock options (the “\n \n Stock Options\n \n ”) to purchase common shares of the Company (the “\n \n Shares\n \n ”) from between $1.98 and $2.04 per common share to $0.30 per common share. 675,000 Stock Options expire on September 4, 2029, and 66,667 Stock Options expire on September 5, 2029. The expiry dates of the Stock Options have not been amended.\n \n\n Under TSXV Policy 4.4 –\n \n Security Based Compensation\n \n , the repricing is subject to the approval of the TSX Venture Exchange and requires approval of disinterested shareholders of the Company in the event the holder of the Stock Options is an insider of the Company (“\n \n Insiders\n \n ”). Accordingly, the Company intends to seek disinterested shareholder approval for the repricing of 650,000 Stock Options held by Insiders at its next annual general and special meeting of shareholders which is expected to be held during Q4 2025.\n \n\n\n About Montero\n \n\n Montero Mining and Exploration Ltd. is a Canadian exploration company with a focus on mineral development in emerging markets. The Company recently concluded a US$27 million settlement with the Government of Tanzania, bringing closure to the dispute over the expropriated Wigu Hill rare earth project.\n \n\n Montero holds the Avispa copper-molybdenum project in northern Chile and is currently advancing the project through exploration. The Company’s board and management have a strong track record in discovering and developing precious metal and base metal projects.\n \n\n Montero is listed on the TSX Venture Exchange under the symbol MON and has 8,353,833 Common Shares and 741,667 stock options outstanding.\n \n\n\n\n For more information, contact:\n \n\n\n\n Montero Mining and Exploration Ltd.\n \n\n\n Dr. Tony Harwood\n \n , President, and Chief Executive Officer\n \n E-mail:\n \n [email protected]\n \n\n Tel: +1 604 428 7050\n \n\n\n www.monteromining.com\n \n\n\n\n Neither TSX Ven...